Category: Drew Z – Compass Financial

Today I began working on a theoretical financial plan for a family of 4. This plan once completed will be my final project. Today I mostly worked on getting a feel for their financial situation as well as began planning their retirement and kids college savings accounts.

Today we looked into Estate planning and wills. Estate planning is crucial to those that possess many assets as if you fail to mention them in your will or estate they go to probate court.

Today Mr. Bray and I went further in depth into retirement savings and income planning. I learned about laws regarding Social Security benefits and Medicare. Also we looked into how crucial compounding interest is and a quote by Albert Einstein that says “Compound interest is the eighth wonder of the world. He who understands it, earns it; he who doesn’t, pays it.”

Today Mr. Bray and I met in person for the first time, we met for lunch in Burlington as that is about halfway to Greensboro from Cary. This really helped me gain insight into his role at Compass Financial and also see what a day in the life as a financial planner looks like.

Today Mr. Bray and I talked about the active vs. passive investing debate and which is better based on a client’s situation. Also we talked about life insurance, retirement plans, and IRAs.

Today I met with Mr. Bray via zoom and we talked about investment planning and they many different types of investments you can make including the pros and cons of each. We also talked about how the market is currently changing and how bonds are trending upwards.

Today I worked with Andrew Bray who is a partner at Compass Financial. I learned a bit about what he does as a financial planner. Also, I learned about the financial planning process and how the plans can be tapered to the individual you are planning for.